A sample return policy provides a number of elements for a retailer to consider offering to its customers in the event that they want to return a purchase. Some of these elements include a time period during which a return is honored and what kind of return options the store provides. Sometimes a return policy is called "terms and conditions."
Most return policies include a time period during which the customer can return their item. Many retailers give customers a 30-, 60- or 90-day period. Sometimes the time period varies depending on the type of refund that the retailer offers. Some offer full refunds for 30 days and store credit for six months, while others only offer store credit. Store credit allows the customer to exchange their item for another or to buy something else with the money they spent on the original item.
For e-commerce retailers, another element to address in a return policy is who pays for the return shipping on the item the customer wants to return. The shipping section also usually addresses details such as where the customer can download a shipping label, the condition of the returned product that the retailer is willing to accept, and average turn-around time for the credit or refund to be processed.